Fintech / Regtech

AML / KYC

SFC Grants In-principle Approval to Virtual Asset Trading Platform

By Editors | 23/08/2020

Once conditions for final approval are satisfied, OSL will be able allowed to operate a brokerage and automated trading service for digital assets.

AML / KYC

ISO Sets Standard for Embedding LEIs in Digital Certificates

By Editors | 22/08/2020

Simplified LEI integration paves the way for all digital certificates to be linked by a universal identifier and reduces the resource burden on certificate issuers.

Fintech / Regtech

BSP Takes Consumer Complaints Chatbot Live

By Sanday Chongo Kabange | 20/08/2020

The trilingual automated chatbot can handle queries and complaints from consumers sent through chat via the BSP website, SMS, or Facebook messenger.

Fintech / Regtech

CSRC Drafts Rules on Third-party Platforms Use by Securities Firms

By Lucy Zhang | 19/08/2020

The rules require brokerage firms to guarantee technical and data security when using third-party platforms to conduct securities business activities.

AML / KYC

Risk and Reward: AI Enables Active Financial Crime Risk Assessment

By Daniel Banes | 18/08/2020

Adverse media is openly available, continually updated, and provides a wealth of information, but it remains underused in financial crime risk assessments, writes Daniel Banes.

AML / KYC

Singapore Crypto Association Publishes Industry Code of Practice

By Editors | 17/08/2020

The code is accompanied by a practice guide providing regulatory guidance to facilitate payment services licence applications in Singapore.

Enforcement

China’s P2P Crackdown Leaves Just 29 Operators in Business

By Manesh Samtani | 17/08/2020

Savers who invested in the thousands of now-defunct P2P platforms over the last several years have not yet managed to recover their funds.

Fintech / Regtech

BOT, UK Government Agree to Cooperate in Financial Services

By Editors | 16/08/2020

The MoU will see increased cooperation in areas such as accounting standards, governance and transparency, fintech development, and sustainable finance.

Fintech / Regtech

Federal Reserve, MIT to Develop, Test ‘Hypothetical’ Digital Dollar

By Sanday Chongo Kabange | 16/08/2020

Fed governor Lael Brainard said lessons from the collaboration will be published, and any codebase developed will be offered as open-source software.